New York & Company, Inc. Appoints Donna M. Iucolano, Executive Vice President, General Manager, Direct Group

New York & Company, Inc. (NYSE: NWY) announced today the appointment of Donna M. Iucolano to the position of Executive Vice President, General Manager - Direct Group. Ms. Iucolano will have overall responsibility for maximizing the e-commerce business for the New York & Company brand and for leading Customer Relationship Management efforts including a private label credit card, loyalty program, customer database management and direct marketing. "Donna is a very talented marketing and Internet executive who will bring extensive experience, talent and proven ability to drive results to New York & Company," said Richard P. Crystal, New York & Company’s Chairman and CEO. "We are deeply focused on further developing our e-commerce business, attracting new customers and pursuing new business initiatives to grow the New York & Company brand. Donna has successfully built and managed all aspects of an e-commerce operation, and we are looking forward to the extensive expertise and business acumen that she will bring to New York & Company." Ms. Iucolano joins New York & Company from Spinach Candy, LLC, a strategic digital business consulting and development company where she served as Owner and Principal for three years. Prior to this, Iucolano was CEO, North America at IMP/International Masters Publishers, a global specialty products publisher and direct marketer. Ms. Iucolano also served as Executive Vice President and Division President of e-Scholastic, the Internet division of Scholastic Corporation. She got her start online when she joined 1-800-FLOWERS in 1994, and led and grew the company’s Interactive Services Division until 2000. Ms. Iucolano has received many awards and recognition for her work. She was an inaugural recipient of a Ten Award for leadership and innovation by the Executive Council of New York, and recognized as a Woman of Achievement by the Exploring Organization, part of the Boy Scouts of America. She is also a founding member of SHOP.ORG, the premier industry association for Internet retailers, and a division of the National Retail Federation. Forward Looking Statements: This press release contains certain forward looking statements. Some of these statements can be identified by terms and phrases such as "anticipate,” "believe,” "intend,” "estimate,” "expect,” "continue,” "could,” "may,” "plan,” "project,” "predict”, and similar expressions and include references to assumptions that we believe are reasonable and relate to our future prospects, developments and business strategies. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These include, but are not limited to: (i) our ability to open and operate stores successfully and the potential lack of availability of suitable store locations on acceptable terms; (ii) seasonal fluctuations in our business; (iii) our ability to anticipate and respond to fashion trends, develop new merchandise and launch new product lines successfully; (iv) general economic conditions, consumer confidence and spending patterns; (v) our dependence on mall traffic for our sales; (vi) our dependence on the success of our brand; (vii) competition in our market, including promotional and pricing competition; (viii) our reliance on the effective use of customer information; (ix) our ability to service any debt we incur from time to time as well as our ability to maintain the requirements that the agreements related to such debt impose upon us; (x) the susceptibility of our business to extreme and/or unseasonable weather conditions; (xi) our ability to retain, recruit and train key personnel; (xii) our reliance on third parties to manage some aspects of our business; (xiii) changes in the cost of raw materials, distribution services or labor, including federal and state minimum wage rates; (xiv) the potential impact of national and international security concerns on the retail environment, including any possible military action, terrorist attacks or other hostilities; (xv) our reliance on foreign sources of production, including the disruption of imports by labor disputes, political instability, legal and regulatory matters, duties, taxes, other charges and quotas on imports, local business practices, potential delays in shipping and related pricing impacts and political issues and fluctuation in currency and exchange rates; (xvi) the potential impact of natural disasters and health concerns relating to outbreaks of widespread diseases, particularly on manufacturing operations of our vendors; (xvii) the ability of our manufacturers to manufacture and deliver products in a timely manner while meeting our quality standards; (xviii) our ability to successfully integrate new or acquired businesses into our existing business; (xix) our reliance on manufacturers to maintain ethical business practices; (xx) our ability to protect our trademarks and other intellectual property rights; (xxi) our ability to maintain, and our reliance on, our information technology infrastructure; (xxii) the effects of government regulation; (xxiii) the control of the company by our sponsors and any potential change of ownership of those sponsors; and (xxiv) other risks and uncertainties as described in our documents filed with the SEC, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to revise the forward looking statements included in this press release to reflect any future events or circumstances. About New York & Company, Inc. New York & Company, Inc., founded in 1918, is a leading specialty retailer of fashion-oriented, moderately-priced women's apparel. The Company's proprietary branded New York & Company (TM) merchandise is sold exclusively through its national network of New York & Company retail stores and online at www.nyandcompany.com. The Company currently operates 591 retail stores in 44 states. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company's website: www.nyandcompany.com.